Home Blog Page 3356

Bright Scholar Announces Unaudited Financial Results for the Second Quarter of Fiscal Year 2025

By
Advertorial Desk
-

Net income from continuing operations increased 223.6% YoY to GBP3.2 million
Management to hold a conference call today at 7:00 a.m. Eastern Time

CAMBRIDGE, England and FOSHAN, China, April 28, 2025 /PRNewswire/ — Bright Scholar Education Holdings Limited (“Bright Scholar,” the “Company,” “we” or “our”) (NYSE: BEDU), a global premier education service company, today announced its unaudited financial results for the second quarter of fiscal year 2025 ended February 28, 2025.

SECOND QUARTER OF FISCAL YEAR 2025 FINANCIAL HIGHLIGHTS

  • Total revenue from continuing operations was GBP43.8 million, compared to GBP48.5 million for the same quarter last fiscal year.
    • Revenue from Schools was GBP26.6 million, compared to GBP27.3 million for the same quarter last fiscal year.
    • Revenue from Overseas Study Counselling increased by 6.2% to GBP11.9 million from GBP11.2 million for the same quarter last fiscal year.
  • Operating income from continuing operations was GBP2.3 million, representing a 7.2% increase from the same quarter last fiscal year. Adjusted operating income from continuing operations[1] increased by 8.1% to GBP2.7 million from GBP2.5 million for the same quarter last fiscal year.
  • Net income from continuing operations increased by 223.6% to GBP3.2 million from GBP1.0 million for the same quarter last fiscal year. Adjusted net income[2] grew by 179.5% to GBP3.5 million from GBP1.3 million for the same quarter last fiscal year.

Revenue from continuing operations by Segment[3]

(GBP in millions except for
percentage)

 

For the second quarter 
ended

February 28/29,

YoY

% Change

% of total 
revenue in
F2Q2025

2025

2024

Schools[4]

26.6

27.3

-2.9 %

60.6 %

Overseas Study Counselling[5]

11.9

11.2

6.2 %

27.1 %

Others[6]

5.3

10.0

-45.9 %

12.3 %

Total

43.8

48.5

-9.7 %

100.0 %

 

[1]. Adjusted operating income/(loss) from continuing operations is a non-GAAP financial measure, which is defined as operating income/(loss) from continuing operations excluding share-based compensation expenses and amortization of intangible assets.

[2]. Adjusted net income is a non-GAAP financial measure, which is defined as net income excluding share-based compensation expenses, amortization of intangible assets, tax effect of amortization of intangible assets, and income/(loss) from discontinued operations, net of tax.

[3]. Effective from the first quarter of fiscal year 2025, the Company has updated its segment reporting to better reflect its strategic priorities. The Company now reports three segments: Schools, Overseas Study Counselling, and Others. Accordingly, segment revenue from continuing operations for the second quarter ended February 29, 2024 has been revised to conform to the presentation used for the second quarter ended February 28, 2025.

[4]. Schools business refers to the previous Overseas Schools segment.

[5]. Overseas Study Counselling business is part of the previous Complementary Education Services segment.

[6]. Others include the previous Domestic Kindergartens & K-12 Operation Services and Complementary Education Services segments (excluding Overseas Study Counselling).

For more information on these adjusted financial measures, please see the section captioned “Non-GAAP Financial Measures” and the tables captioned “Reconciliations of GAAP and Non-GAAP Results” set forth at the end of this release.

 

MANAGEMENT COMMENTARY

Mr. Robert Niu, Chief Executive Officer of Bright Scholar, commented, “During the second fiscal quarter, we achieved steady progress in executing our “dual-engine” strategy by advancing both global expansion and student recruitment. These efforts have strengthened the resilience of our Schools business amidst external headwinds while creating a foundation for continued success. Operationally, we maintained stable total enrollment year-over-year at 2,669 students as of March 31, 2025. Notably, we also  achieved a strong 14.2% year-over-year improvement in revenue per enrollment at our U.S. schools this quarter, a testament to our premium positioning and operational effectiveness. Meanwhile, our global recruitment efforts continued to gain momentum across key markets, enhancing our pipeline for future growth. As a leading provider of premier international education services, we remain committed to delivering exceptional learning experiences, optimizing operational efficiency, and scaling our global footprint to create enduring value for all stakeholders.”

Ms. Cindy Zhang, Chief Financial Officer of Bright Scholar, added, “We are pleased to report healthy financial results in the second fiscal quarter, reflecting improved operating efficiency and profitability. Our total revenue remained relatively stable year-over-year at GBP43.8 million. Revenues from our Overseas Study Counselling business increased by 6.2% year-over-year to GBP11.9 million. We continue to manage our costs prudently, balancing our growth initiatives with the impact of the macroeconomic environment. Our SG&A expenses decreased by 13.7% year-over-year in absolute amount, while as a percentage of revenue decreasing by 1.2 percentage points to 25.5%. Notably, our net income from continuing operations increased by over 200% year-over-year. In the second half of the fiscal year, we will continue to execute our long-term strategy to balance healthy and sustainable growth while improving profitability.”

UNAUDITED FINANCIAL RESULTS FOR THE SECOND FISCAL QUARTER ENDED FEBRUARY 28, 2025

Revenue from Continuing Operations

Revenue was GBP43.8 million, compared to GBP48.5 million for the same quarter last fiscal year.

Schools: Revenue was GBP26.6 million, compared to GBP27.3 million for the same quarter last fiscal year.

Overseas Study Counselling: Revenue was GBP11.9 million, representing an increase of 6.2% from the same quarter last fiscal year. The increase was mainly due to recruitment growth.

Others: Revenue was GBP5.3 million, compared to GBP10.0 million for the same quarter last fiscal year. The decrease was mainly due to the contraction of K-12 operation services, which was in line with our expectations.

Cost of Revenue from Continuing Operations

Cost of revenue was GBP30.7 million, compared to GBP33.6 million for the same quarter last fiscal year.

Gross Profit, Gross Margin and Adjusted Gross Profit from Continuing Operations[7]

Gross profit was GBP13.2 million, compared to GBP15.0 million for the same quarter last fiscal year. Gross margin was 30.0%, compared to 30.8% for the same quarter last fiscal year.

Adjusted gross profit from continuing operations was GBP13.2 million, compared to GBP15.1 million for the same quarter last fiscal year.

Selling, General and Administrative (SG&A) Expenses from Continuing Operations

Total SG&A expenses were GBP11.2 million, representing a 13.7% decrease from GBP13.0 million for the same quarter last fiscal year. The decrease was mainly due to the improvement in operational efficiency in our Schools business.

Operating Income, Operating Margin and Adjusted Operating Income from Continuing Operations

Operating income was GBP2.3 million, representing a 7.2% increase from GBP2.2 million for the same quarter last fiscal year. Operating margin was 5.3%, compared to 4.5% for the same quarter last fiscal year.

Adjusted operating income from continuing operations increased by 8.1% to GBP2.7 million from GBP2.5 million for the same quarter last fiscal year.

Net Income and Adjusted Net Income

Net income was GBP3.2 million, representing a 1,045.9% increase from GBP0.3 million for the same quarter last fiscal year.

Adjusted net income increased by 179.5% to GBP3.5 million from GBP1.3 million for the same quarter last fiscal year.

Adjusted EBITDA[8]

Adjusted EBITDA was GBP3.1 million, compared to GBP3.6 million for the same quarter last fiscal year.

Net income per Ordinary Share/ADS and Adjusted Net Earnings per Ordinary Share[9]/ADS[10]

Basic and diluted net income per ordinary share attributable to ordinary shareholders from continuing operations were GBP0.03 each, compared to GBP0.01 each for the same quarter last fiscal year.

Adjusted basic and diluted net income per ordinary share attributable to ordinary shareholders were GBP0.03 each, compared to GBP0.01 each for the same quarter last fiscal year.

Basic and diluted net income per ADS attributable to ADS holders from continuing operations were GBP0.11 each, compared to GBP0.03 each for the same quarter last fiscal year.

Adjusted basic and diluted net income per ADS attributable to ADS holders were GBP0.12 each, compared to GBP0.04 each for the same quarter last fiscal year.

Cash and Working Capital

As of February 28, 2025, the Company had cash and cash equivalents and restricted cash of GBP46.3 million, compared to GBP54.3 million as of August 31, 2024.

 

[7]. Adjusted gross profit from continuing operations is a non-GAAP financial measure, which is defined as gross profit from continuing operations, excluding amortization of intangible assets.

[8]. Adjusted EBITDA is a non-GAAP financial measure, which is defined as net income/(loss) excluding interest income/(expense), net, income tax expense/(benefit), depreciation and amortization, share-based compensation expenses, and income/(loss) from discontinued operations, net of tax.

[9]. Adjusted basic and diluted earnings/(loss) per share is a non-GAAP financial measure, which is defined as adjusted net income/(loss) attributable to ordinary shareholders divided by the weighted average number of basic and diluted ordinary shares.

[10]. Adjusted basic and diluted earnings/(loss) per American Depositary Share (“ADS”) is a non-GAAP financial measure, which is defined as adjusted net income/(loss) attributable to ADS shareholders divided by the weighted average number of basic and diluted ADSs.

 

CONFERENCE CALL 

The Company’s management will host an earnings conference call at 7:00 a.m. U.S. Eastern Time (7:00 p.m. Beijing/Hong Kong Time) on April 28, 2025.

Dial-in details for the earnings conference call are as follows:

Mainland China:               4001-201203
Hong Kong:                      800-905945
United States:                  1-888-346-8982
International:                    1-412-902-4272

Participants should dial in at least 5 minutes before the scheduled start time and ask to be connected to the call for “Bright Scholar Education Holdings Limited.”

Additionally, a live and archived webcast of the conference call will be available on the Company’s investor relations website at http://ir.brightscholar.com/.

A replay of the conference call will be accessible after the conclusion of the live call until May 5, 2025, by dialing the following telephone numbers:

United States Toll Free:    1-877-344-7529
International:                     1-412-317-0088
Replay Passcode:             2410484

CONVENIENCE TRANSLATION

The Company’s reporting currency is GBP. However, periodic reports made to shareholders will include current period amounts translated into U.S. dollars using the prevailing exchange rates at the balance sheet date for the convenience of readers. Translations of balances in the condensed consolidated balance sheets, the related condensed consolidated statements of operations, and cash flows from GBP into U.S. dollars as of and for the quarter ended February 28, 2025, are solely for the readers’ convenience and were calculated at the rate of GBP1.00=US$1.2591, representing the noon buying rate set forth in the H.10 statistical release of the U.S. Federal Reserve Board on February 28, 2025. No representation is made that the GBP amounts could have been, or could be, converted, realized or settled into US$ at that rate on February 28, 2025, or at any other rate.

NON-GAAP FINANCIAL MEASURES

In evaluating our business, we consider and use certain non-GAAP measures, including primarily adjusted EBITDA, adjusted net income/(loss), adjusted gross profit/(loss) from continuing operations, adjusted operating income/(loss) from continuing operations, adjusted net earnings/(loss) per share attributable to ordinary shareholders/ADS holders basic and diluted as supplemental measures to review and assess our operating performance. The presentation of these non-GAAP financial measures is not intended to be considered in isolation or as a substitute for the financial information prepared and presented in accordance with U.S. GAAP. We define adjusted gross profit/(loss) from continuing operations as gross profit/(loss) from continuing operations excluding amortization of intangible assets. We define adjusted EBITDA as net income/(loss) excluding interest income/(expense), net, income tax expense/(benefit), depreciation and amortization, share-based compensation expenses, and income/(loss) from discontinued operations, net of tax. We define adjusted net income/(loss) as net income/(loss) excluding share-based compensation expenses, amortization of intangible assets, tax effect of amortization of intangible assets, and income/(loss) from discontinued operations, net of tax. We define adjusted operating income/(loss) from continuing operations as operating income/(loss) from continuing operations, excluding share-based compensation expenses and amortization of intangible assets. Additionally, we define adjusted net earnings/(loss) per share attributable to ordinary shareholders/ADS holders, basic and diluted, as adjusted net income/(loss) attributable to ordinary shareholders/ADS holders (net income/(loss) to ordinary shareholders/ADS holders excluding share-based compensation expenses, amortization of intangible assets, tax effect of amortization of intangible assets, and income/(loss) from discontinued operations, net of tax) divided by the weighted average number of basic and diluted ordinary shares or ADSs.

We incur amortization expense of intangible assets related to various acquisitions that have been made in recent years. These intangible assets are valued at the time of acquisition and are then amortized over a period of several years after the acquisition. We believe that exclusion of these expenses allows greater comparability of operating results that are consistent over time for the Company’s newly-acquired and long-held business, as the related intangibles do not have a significant connection to the growth of the business. Therefore, we provide exclusion of amortization of intangible assets to define adjusted gross profit from continuing operations, adjusted operating income/(loss) from continuing operations, adjusted net income/(loss), and adjusted net earnings/(loss) per share attributable to ordinary shareholders/ADS holders, basic and diluted. In addition, the strategic move to dispose of the non-core businesses is viewed as discontinued operations, which is a non-recurring item. The exclusion facilitates comparisons of our operating performance on a period-to-period basis. Therefore, we provide exclusion of income/(loss) from discontinued operations, net of tax, to define adjusted net income/(loss), adjusted EBITDA, adjusted net earnings/(loss) per share attributable to ordinary shareholders/ADS holders, basic and diluted.

We present the non-GAAP financial measures because they are used by our management to evaluate our operating performance and formulate business plans. Such non-GAAP measures include adjusted EBITDA, adjusted net income/(loss), adjusted gross profit/(loss) from continuing operations, adjusted operating income/(loss) from continuing operations, adjusted net earnings/(loss) per share attributable to ordinary shareholders/ADS holders basic and diluted. Non-GAAP financial measures enable our management to assess our operating results without considering the impact of non-cash charges, including depreciation and amortization and share-based compensation expenses, and without considering the impact of non-operating items such as interest income/(expense), net; income tax expense/benefit; share-based compensation expenses; amortization of intangible assets, tax effect of amortization of intangible assets, and without considering the impact of non-recurring item, i.e. income/(loss) from discontinued operations. We also believe that the use of these non-GAAP measures facilitates investors’ assessment of our operating performance.

The non-GAAP financial measures are not defined under U.S. GAAP and are not presented in accordance with U.S. GAAP. The non-GAAP financial measures have limitations as analytical tools. One of the key limitations of using these non-GAAP financial measures is that they do not reflect all items of income and expense that affect our operations. Interest income/(expense), net; income tax expense/benefit; depreciation and amortization; share-based compensation expense; tax effect of amortization of intangible assets have been and may continue to be incurred in our business and are not reflected in the presentation of these non-GAAP measures, including adjusted EBITDA or adjusted net income/(loss). Further, these non-GAAP measures may differ from the non-GAAP information used by other companies, including peer companies, and therefore their comparability may be limited.

About Bright Scholar Education Holdings Limited

Bright Scholar is a premier global education service Group. The Company primarily provides quality international education to global students and equips them with the critical academic foundation and skillsets necessary to succeed in the pursuit of higher education.  

For more information, please visit: https://ir.brightscholar.com/.

Safe Harbor Statement

This announcement contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements include, without limitation, the Company’s business plans and development, which can be identified by terminology such as “may,” “will,” “expect,” “anticipate,” “aim,” “estimate,” “intend,” “plan,” “believe,” “potential,” “continue,” “is/are likely to” or other similar expressions. Such statements are based upon management’s current expectations and current market and operating conditions and relate to events that involve known or unknown risks, uncertainties and other factors, all of which are difficult to predict and many of which are beyond the Company’s control, which may cause the Company’s actual results, performance or achievements to differ materially from those in the forward-looking statements. Further information regarding these and other risks, uncertainties or factors is included in the Company’s filings with the U.S. Securities and Exchange Commission. The Company does not undertake any obligation to update any forward-looking statement as a result of new information, future events or otherwise, except as required under law.

IR Contact:
Email: BEDU@thepiacentegroup.com
Phone: +86 (10) 6508-0677/ +1-212-481-2050

Media Contact:
Email: media@brightscholar.com

 

 

 

BRIGHT SCHOLAR EDUCATION HOLDINGS LIMITED

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS

(Amounts in thousands)

As of

August 31,

    February 28,

2024

2025

GBP

GBP

USD

ASSETS

Current assets

Cash and cash equivalents 

52,991

45,812

57,682

Restricted cash  

1,307

435

548

Accounts receivable, net    

2,018

2,523

3,177

Amounts due from related parties, net    

1,548

1,520

1,914

Other receivables, deposits and other
     assets, net

13,303

9,267

11,668

Inventories

125

796

1,003

Total current assets     

71,292

60,353

75,992

Restricted cash – non-current

27

27

34

Property and equipment, net

37,522

35,430

44,610

Intangible assets, net

5,327

5,166

6,505

Goodwill, net     

56,634

57,058

71,842

Long-term investments, net

2,623

2,654

3,342

Deferred tax assets, net     

206

138

174

Other non-current assets, net

1,013

1,093

1,376

Operating lease right-of-use assets –
     non-current

152,451

149,465

188,191

Total non-current assets             

255,803

251,031

316,074

TOTAL ASSETS    

327,095

311,384

392,066

 

 

 

BRIGHT SCHOLAR EDUCATION HOLDINGS LIMITED

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS-CONTINUED

(Amounts in thousands)

As of

August 31,

 February 28,

2024

2025

GBP

GBP

USD

LIABILITIES AND EQUITY

Current liabilities

Accounts payable

9,864

10,180

12,818

Contract liabilities – current

47,872

32,426

40,828

Accrued expenses and other current
     liabilities

20,538

22,632

28,496

Amounts due to related parties

8,417

4,441

5,592

Income tax payable

8,483

5,979

7,528

Refund liabilities – current 

1,060

937

1,180

Operating lease liabilities – current

11,420

11,806

14,865

Total current liabilities

107,654

88,401

111,307

Deferred tax liabilities

3,348

2,323

2,925

Operating lease liabilities – non-
     current         

150,901

148,137

186,519

Non-current contract liabilities

93

100

126

Total non-current liabilities        

154,342

150,560

189,570

TOTAL LIABILITIES            

261,996

238,961

300,877

EQUITY

Share capital      

1

1

1

Additional paid-in capital  

220,901

221,515

278,910

Statutory reserves              

2,073

3,172

3,994

Accumulated other comprehensive
     loss

(3,777)

(3,480)

(4,381)

Accumulated deficit           

(165,693)

(159,851)

(201,268)

Shareholders’ equity   

53,505

61,357

77,256

Non-controlling interests            

11,594

11,066

13,933

TOTAL EQUITY   

65,099

72,423

91,189

TOTAL LIABILITIES AND EQUITY   

327,095

311,384

392,066

 

 

 

BRIGHT SCHOLAR EDUCATION HOLDINGS LIMITED

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

 (Amounts in thousands, except for shares and per-share data)

Three Months Ended February 29/28

Six Months Ended February 29/28 

2024

2025

2024

2025

GBP

GBP

USD

GBP

GBP

USD

Revenue

48,528

43,843

55,203

101,834

88,575

111,525

Cost of revenue

(33,573)

(30,680)

(38,629)

(69,016)

(62,369)

(78,529)

Gross profit

14,955

13,163

16,574

32,818

26,206

32,996

Selling, general and administrative expenses

(12,954)

(11,185)

(14,083)

(25,513)

(19,595)

(24,672)

Other operating income

186

367

462

1,169

505

636

Operating income

2,187

2,345

2,953

8,474

7,116

8,960

Interest (expense)/income, net

(288)

229

288

(194)

288

363

Investment (loss)/income

(49)

7

9

66

9

11

Other expenses

(181)

(590)

(743)

(246)

(596)

(750)

Income before income taxes and share of equity
in loss of unconsolidated affiliates

1,669

1,991

2,507

8,100

6,817

8,584

Income tax (expense)/ benefit

(668)

1,229

1,547

(2,117)

415

523

Share of equity in (loss)/ income of unconsolidated
affiliates

(6)

–

–

14

–

–

Net income from continuing operations

995

3,220

4,054

5,997

7,232

9,107

(Loss)/income from discontinued operations, net
of tax

(714)

–

–

885

–

–

Net income

281

3,220

4,054

6,882

7,232

9,107

Net (loss)/income attributable to non-controlling
interests

Continuing operations

(37)

16

20

275

291

366

Discontinued operations

27

–

–

218

–

–

Net (loss)/income attributable to ordinary
shareholders

Continuing operations

1,032

3,204

4,034

5,722

6,941

8,741

Discontinued operations

(741)

–

–

667

–

–

Net (loss)/income per share attributable to

   ordinary shareholders

—Basic and diluted

Continuing operations

0.01

0.03

0.03

0.05

0.06

0.07

Discontinued operations

(0.01)

–

–

0.01

–

–

Weighted average shares used in

  calculating net (loss)/income per ordinary share:

—Basic

Continuing operations and discontinued operations

118,669,795

118,669,795

118,669,795

118,669,795

118,669,795

118,669,795

—Diluted

Continuing operations and discontinued operations

118,669,795

119,320,269

119,320,269

118,669,795

118,862,781

118,862,781

Net (loss)/income per ADS

—Basic and diluted

Continuing operations

0.03

0.11

0.14

0.19

0.23

0.29

Discontinued operations

(0.02)

–

–

0.02

–

–

 

 

  

BRIGHT SCHOLAR EDUCATION HOLDINGS LIMITED 

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS 

(Amounts in thousands)

Three Months Ended February 29/28

Six Months Ended February 29/28

2024

2025

2024

2025

GBP

GBP

USD

GBP

GBP

USD

Net cash used in operating activities

(5,683)

(1,529)

(1,925)

(8,010)

(7,204)

(9,071)

Net cash generated from/(used in) investing activities

4,080

(340)

(428)

2,115

3,221

4,055

Net cash used in financing activities

(1,223)

–

–

(1,433)

(4,442)

(5,593)

Effect of exchange rate changes on cash and cash
equivalents, and restricted cash

(349)

637

802

278

374

471

Net change in cash and cash equivalents,
and restricted cash 

(3,175)

(1,232)

(1,551)

(7,050)

(8,051)

(10,138)

Cash and cash equivalents, and restricted cash
at beginning of the period

57,822

47,506

59,815

61,697

54,325

68,401

Cash and cash equivalents, and restricted cash
at end of the period

54,647

46,274

58,264

54,647

46,274

58,264

 

 

 

BRIGHT SCHOLAR EDUCATION HOLDINGS LIMITED

Reconciliations of GAAP and Non-GAAP Results

(Amounts in thousands, except for shares and per-share data)

Three Months Ended February 29/28

Six Months Ended February 29/28

2024

2025

2024

2025

GBP

GBP

USD

GBP

GBP

USD

Gross profit from continuing operations

14,955

13,163

16,574

32,818

26,206

32,996

Add: Amortization of intangible assets

115

70

88

231

183

230

Adjusted gross profit from continuing
operations

15,070

13,233

16,662

33,049

26,389

33,226

Operating income from continuing operations

2,187

2,345

2,953

8,474

7,116

8,960

Add: Share-based compensation expenses

181

269

339

181

614

773

Add: Amortization of intangible assets

115

70

88

231

183

230

Adjusted operating income from continuing
operations

2,483

2,684

3,380

8,886

7,913

9,963

Net income

281

3,220

4,054

6,882

7,232

9,107

Add: Share-based compensation expenses

181

269

339

181

614

773

Add: Amortization of intangible assets

115

70

88

231

183

230

Add: Tax effect of amortization of intangible
assets

(23)

(15)

(19)

(46)

(38)

(48)

Less: Loss/(income) from discontinued
operations

(714)

–

–

885

–

–

Adjusted net income

1,268

3,544

4,462

6,363

7,991

10,062

Net income attributable to ordinary
shareholders

291

3,204

4,034

6,389

6,941

8,741

Add: Share-based compensation expenses

181

269

339

181

614

773

Add: Amortization of intangible assets

87

56

71

175

142

178

Add: Tax effect of amortization of intangible
assets

(18)

(12)

(15)

(36)

(30)

(38)

Less: Loss/(income) from discontinued
operations

(741)

–

–

667

–

–

Adjusted net income attributable to ordinary
shareholders

1,282

3,517

4,429

6,042

7,667

9,654

Net income

281

3,220

4,054

6,882

7,232

9,107

Add: Interest expense/(income), net

288

(229)

(288)

194

(288)

(363)

Add: Income tax expense/(benefit)

668

(1,229)

(1,547)

2,117

(415)

(523)

Add: Depreciation and amortization

1,457

1,094

1,377

2,736

2,360

2,971

Add: Share-based compensation expenses

181

269

339

181

614

773

Less: Loss/(income) from discontinued
operations

(714)

–

–

885

–

–

Adjusted EBITDA

3,589

3,125

3,935

11,225

9,503

11,965

Weighted average shares used

   in calculating adjusted net (loss)/income per
ordinary share:

—Basic

118,669,795

118,669,795

118,669,795

118,669,795

118,669,795

118,669,795

—Diluted

118,669,795

119,320,269

119,320,269

118,669,795

118,862,781

118,862,781

Adjusted net income per share attributable

   to ordinary shareholders

—Basic and Diluted

0.01

0.03

0.04

0.05

0.06

0.08

Adjusted net income per ADS

—Basic and Diluted

0.04

0.12

0.15

0.20

0.26

0.32

 

 

 

XCMG and Brooks Australia Host Landmark “Dig Day” Test Drive Event, Showcasing Heavy Machinery Excellence in Australian Outback

By
Advertorial Desk
-

SYDNEY, April 28, 2025 /PRNewswire/ — XCMG Machinery (SHE:000425, “XCMG”), a global leader in construction machinery, in partnership with Brooks Australia, successfully concluded its groundbreaking “Dig Day” test drive event on Australia’s iconic red soil. The two-day immersive experience highlighted XCMG’s cutting-edge equipment portfolio and reinforced its commitment to delivering tailored solutions for Australia’s mining and infrastructure sectors.

XCMG and Brooks Australia Host Landmark "Dig Day" Test Drive Event, Showcasing Heavy Machinery Excellence in Australian Outback
XCMG and Brooks Australia Host Landmark “Dig Day” Test Drive Event, Showcasing Heavy Machinery Excellence in Australian Outback

The event featured 16 advanced machines, ranging from compact forklifts to robust 50-ton mining excavators, demonstrating XCMG’s versatility across industries. Key attractions included:

  • GR2605 Motor Grader: Equipped with electro-hydraulic steering and joystick controls, this model achieved millimeter-level grading precision through real-time blade adjustments. Its reinforced frame and heavy-duty moldboard excelled in simulated mining and road construction scenarios, meeting Australia’s stringent demands for durability and performance.
  • Hands-On Training: XCMG’s technical team transformed into a “mobile classroom,” offering end-to-end guidance—from safety protocols to real-time operational coaching. Attendees, including first-time operators, mastered complex machinery within minutes.
  • Extreme Condition Testing: Machines operated seamlessly in 40°C heat, proving their reliability in harsh environments critical to Australia’s resource and infrastructure projects.

The event enables Australian clients to validate the equipment’s performance in real-world scenarios and collect actionable insights for region-specific upgrades. Critical feedback highlighted the need for enhanced operator interfaces and advanced cooling systems optimized for high-temperature environments, alongside growing demand for modular designs to address the diverse operational needs of Australian projects.

“The enthusiasm and feedback from participants underscore the importance of co-creating solutions with our clients,” said Minghu He, XCMG spokesperson. “These insights are now under technical review and will directly inform Australia-specific model enhancements.”

The collaboration with Brooks Australia underscores XCMG’s strategy to deepen regional ties through innovation-driven alliances. “By combining XCMG’s technological prowess with Brooks’ local expertise, we’re setting new benchmarks for the industry,” added He.

For more up-to-date news of XCMG in Oceania, please visit https://www.xcmgglobal.com/.

About XCMG  Machinery

Established in 1943, XCMG Machinery has risen to prominence in the engineering machinery industry, known globally for its competitive edge and influential presence. Pursuing the “Empower Solid Future” mission, XCMG has ventured beyond traditional boundaries to offer an extensive array of products and services, including construction and mining machinery, sanitation equipment, and innovative financial and modern services, leading the industry in diversity and scope. By 2025, its innovative products had made their way to more than 193 countries and regions worldwide.

Driving Mobile Growth: GSMA Advocates for Policy Reforms to Enhance Investment in MENA

By
Advertorial Desk
-

Vodafone Egypt Partners with GSMA to Propel Mobile Investment and Policy Changes in MENA; New Report Highlights Five Key Reforms to Expedite 5G Deployment and Digital Transformation in the Region

CAIRO, EGYPT – Media OutReach Newswire – 28 April 2025 – Policymakers and regulators across the Middle East and North Africa (MENA) risk missing out on significant economic growth driven by mobile technology unless urgent policy reforms are enacted, according to a new GSMA report presented today at a high-level CxO and policy roundtables hosted by Vodafone Egypt in Cairo. The report, Igniting Mobile Investment in MENA, takes a closer look at how well countries in the region are set up to improve and expand their mobile networks. It highlights key strengths and problem areas in current policies, offering practical ideas to help unlock more investment and enhance mobile access for everyone.

With the mobile sector projected to contribute over $200 billion to MENA’s GDP by 2030, the stakes are high. However, the report finds that outdated regulatory environments including fragmented licensing management, and high sector specific taxation are stifling the necessary investments to expand and modernise networks. At the same time, more than 250 million people remain offline despite being within coverage – underscoring the urgent need for policies that support both infrastructure expansion and meaningful digital inclusion.

“Governments in MENA have set bold digital transformation goals, but the investment climate still lags behind,” said Jawad Abbassi, Head of MENA at GSMA. “This report provides a clear roadmap for reform – enabling mobile to deliver the connectivity, services, and economic growth that societies across the region are counting on.”

At the reports core is the Infrastructure Policy Readiness Framework, a diagnostic tool developed by the GSMA to help policymakers assess the investment-readiness of their regulatory environments. The report evaluates mobile investment conditions in 13 markets across MENA, uncovering shared challenges such as:

  • Restrictive licensing models and too short spectrum licence durations
  • High and distortionary sector-specific taxes
  • Delays in approvals for infrastructure deployment
  • Lack of supportive frameworks for network sharing
  • Limited provisions for cross-border data flows and innovation


Five Priority Reforms to Unlock Mobile Investment
The GSMA has identified five top policy priorities essential to improving investment climates and accelerating network rollout:

  1. Modernise licensing framework to allow technology neutrality and increase spectrum license duration to provide clarity and reduce risk for investors
  2. Fair and investment-friendly taxation that encourages infrastructure investment
  3. Supportive frameworks for infrastructure sharing to lower costs and expand rural coverage
  4. Competitive, open market dynamics to enable efficient investment and consumer choice
  5. Regulation that enables innovation and emerging technologies, such as 5G, AI, and cloud computing

“These are practical, achievable steps that will pay dividends for years to come,” said Michaela Angonius, Head of Policy and Regulation at GSMA. “This isn’t just about building networks – it’s about creating opportunities for people, communities, and economies across the region. With the right policies, governments can unlock innovation, create jobs, reduce inequality, and empower millions to benefit from the digital age.”

A Shared Commitment to Progress
The report was presented during the GSMA MENA CxO Roundtable, bringing together senior government officials and industry leaders. The event highlighted growing momentum across the region for more collaborative policymaking and the importance of bridging the gap between ambition and action, emphasising that public and private sector collaboration is crucial for the successful digital transformation of the region.

“The telecommunications sector is a cornerstone of economic growth and digital transformation, offering immense opportunities to drive innovation and connect communities,” said Ayman Essam, External Affairs and Legal Director at Vodafone Egypt. “At Vodafone Egypt, we are committed to leveraging our expertise, including our 5G experience across 49 Vodafone markets, to address the region’s most pressing challenges. By collaborating closely with MENA operators and the GSMA, we aim to drive meaningful policy reforms and foster a supportive regulatory environment that enables sustainable growth across the region.”

The GSMA is now calling on governments across the region to adopt the report’s recommendations and deepen engagement with mobile industry stakeholders to realise shared digital ambitions.

Hashtag: #GSMA

The issuer is solely responsible for the content of this announcement.

About the GSMA

The GSMA is a global organisation unifying the mobile ecosystem to discover, develop, and deliver innovation foundational to positive business environments and societal change. Our vision is to unlock the full power of connectivity so that people, industry, and society thrive. Representing mobile operators and organisations across the mobile ecosystem and adjacent industries, the GSMA delivers for its members across three broad pillars: Connectivity for Good, Industry Services and Solutions, and Outreach. This activity includes advancing policy; tackling today’s biggest societal challenges; underpinning the technology and interoperability that make mobile work; and providing the world’s largest platform to convene the mobile ecosystem at the MWC and M360 series of events.

About Vodafone Egypt

Vodafone is the largest telecommunications company in Egypt. The company’s strategy is to shape the future of the new digital world while continuing to put our customers first. For more than 25 years, Vodafone has invested more than EGP 100 billion to make a tangible difference in the lives of over 50 million customers through its exceptional team of 10,000 employees. The company strives to strongly impact on the market with innovative products and services and seamless digital customer experience. They were the first to launch the Vodafone Cash mobile wallet, aiming to facilitate the lives of over 20 million Egyptians by providing access to digital solutions and financial services. In 2003, the company established the Vodafone Egypt Foundation for community development and invested EGP 700 million in high-impact projects, benefiting 11 million Egyptians. The company’s purpose is to connect for a better future by using technology to improve lives and businesses and help develop inclusive, sustainable societies. It is committed to operating 100% on renewable energy by 2025.

For more information, please visit https://web.vodafone.com.eg/en/home or connect with us on LinkedIn at

Laos Faces Surge in Fraudulent Social Media Accounts

By
Laotian Times
-
The officers are interrogating the offender (Phetmany) for her fraud crime.

Social media in Laos has seen a growing number of fraudulent accounts emerging on several platforms, particularly Facebook, which remains the most widely used application in the country, according to online reports.

Continue

Xujialou Subdistrict, Taishan District, Tai’an City, Shandong Province: Spring Ushers in a New Journey, Exploring “Daguan Garden”

By
Advertorial Desk
-

JINAN, China, April 16, 2025 /PRNewswire/ — A report from Qilu Yidian: As spring’s warm sunlight blankets the earth, Daguanzhuang Village in Xujialou Subdistrict, Taishan District, radiates vibrant energy. Intangible cultural heritage inheritance, pastoral picking, cultural experiences, and innovative economy interweave here into a moving symphony of rural revitalization. In Daguanzhuang, the distinctive development model of “civilization practice + agricultural-tourism integration” is showcasing unique charm, attracting more and more urban visitors to experience an idyllic life that “leaves the hustle but stays close to the city.”

Cultural Practices Nourish the Homeland, Vitalizing Cultural Spaces

In the Dandelion Cinema on the first floor of Daguanzhuang Village’s New Era Civilization Practice Station, villagers are watching the documentary Beautiful Countryside, My Home, which records the village’s development and changes. Seeing familiar faces and scenes of the old village and new buildings on screen, they can’t help but start discussing. In the historical and cultural exhibition room, weathered farm tools and yellowed photos tell the story of the village’s vicissitudes. In stark contrast, young people focus on reading in the study lounge, and laughter echoes in the digital cinema. Visitors can sense the village’s transformation in the “perception zone” while enjoying tranquility away from the hustle and bustle; in the “creation zone,” they can learn calligraphy and painting in the art studio, turning nostalgic feelings into landscapes and flowers on paper to experience cultural charm; in the “display zone,” they can learn about the village’s rich cultural activities and leave their impressions after the visit.

Urban Farm Awakens Nostalgia, Colorful Fields Draw Visitors

Stepping into the Colorful Fields Orchard in Daguanzhuang Village’s rural revitalization park, the sweet scent of strawberries mingles with the fragrance of soil. In the picking greenhouses of this urban farm, tourists bend to pick strawberries, savoring the joy of farming. The most eye-catching feature is the newly painted Nezha-themed murals on the exterior walls of the greenhouses. Lifelike anime images of Nezha, Ao Bing, Taiyi Zhenren, and the Dragon King have turned these “internet-famous walls” into new landmark photo spots. Members of a motorcycle club recently visited the renovated orchard, taking pictures in front of the murals to embrace the spring surprise. The “internet-famous walls” are now mostly complete, attracting many tourists—especially children—to 打卡 (visit and take photos).

Intangible Cultural Heritage Workshop Fills the Air with Wheat Aroma: Small Pancakes “Cook Up” a Big Industry

It is reported that Daguanzhuang pancakes are a municipal-level intangible cultural heritage. The pancake production base includes an intangible cultural heritage display area, processing workshop, experience and creation zone, and e-commerce live-streaming area. In the display area, visitors can learn about the history of Daguanzhuang pancakes; in the processing workshop, they can observe every step from raw materials to finished products and learn production techniques; in the experience and creation zone, they can make their own flavored pancakes on-site using the skills they’ve learned, even turning pancakes into artistic works to enjoy hands-on fun. Today, in Daguanzhuang Village, the humble pancake has grown into a characteristic industry integrating production, processing, sales, and cultural transmission. Elders and women in the village can find suitable jobs in the cooperative, achieving employment just steps from their homes.

(Note: “打卡” is translated as “visit and take photos” to convey the modern social media context of checking in at popular spots.)

1 Billion People, Trillions in Growth: Why LATAM & SEA Are The Next Economic Powerhouses by Leading Digital Finance Revolution

By
Advertorial Desk
-

Developed by Valor Capital and Credit Saison, study points to a massive $1.67 trillion financing gap for SMEs and MSMEs in both regions, which can be unlocked by digital finance, cross-border collaboration and blockchain.

SAO PAULO and SINGAPORE, April 28, 2025 /PRNewswire/ — Latin America and Southeast Asia, home to over one billion people, are emerging as global economic powerhouses — driven by investments in infrastructure, middle-class expansion, and digital transformation. This is according to a report by Valor Capital Group and Credit Saison, which highlights that despite their readiness for growth, both regions continue to face financial inefficiencies and regulatory barriers.

The first-of-its-kind comparative study calls for increased investments in digital finance, cross-border collaboration, and blockchain to unlock their full potential, emphasizing how these regions are reshaping global trade and finance. While economic expansion is evident, countries in LATAM and SEA remain financially fragmented — limiting access to credit and hindering commercial integration.

“Latin America and Southeast Asia are no longer just emerging markets; they are defining the future of digital finance, trade, and economic collaboration,” says Bruno Batavia, Director of Emerging Tech at Valor Capital. According to him, unlocking their full potential will require regulatory modernization, regional partnerships, and financial innovation to be central to the agenda. “The next decade will be crucial in determining whether these regions can overcome their historical financial limitations and emerge as fully integrated players in the global economy.”

Small and medium-sized enterprises (SMEs) are the backbone of these economies, but 87% of their financing needs in Latin America remain unmet, resulting in a $1.4 trillion financing gap. In Southeast Asia, 51% of micro, small, and medium enterprises (MSMEs) face difficulties accessing financial services, creating a $272 billion deficit. Traditional banking systems, still reliant on outdated credit assessment models and manual processes, are unable to keep up with growing demand, stifling the growth of millions of businesses.

“This report serves as a critical blueprint for stakeholders seeking to harness the immense potential these regions offer. Credit Saison has been in Brazil since 2023, and has been present in Southeast Asia for over ten years, with the unique ability to deploy investments via private credit and venture capital to support the growth of fintechs and founders in both debt and equity. Through our experiences as an operator in global markets with steep Japanese heritage, partnerships and knowledge exchange are critical to navigating and adapting to local nuances and forming successful strategies in the market. For Credit Saison, it’s always about winning together with our partners. We look forward to deepening our engagement in both regions to collaboratively unlock pathways to sustainable growth,”  said Qin En Looi, Partner at Saison Capital, the corporate venture capital arm of Credit Saison.

Cross-border payments represent another significant challenge. Remittance fees in both regions average 6.1% — more than double the United Nations’ Sustainable Development Goal (SDG) target of 3%. This translates to an annual cost of $7 billion for consumers, reducing disposable income and limiting financial mobility. Additionally, international payments can take up to five business days to settle, undermining the efficiency of global trade networks.

Venture Capital and Fintechs Driving Change

In response to these challenges, innovation in the fintech sector and the rise of venture capital investments are transforming the financial landscape. Southeast Asia created 151 new venture capital funds in 2021, while Latin America peaked at 69 funds in 2019, indicating strong investor confidence. The total number of funding rounds nearly doubled in Southeast Asia, while in Latin America, the total volume of investments grew 8.7 times, underscoring the rapid evolution of the financial ecosystem.

This influx of capital has led to significant acquisitions in the fintech sector, expanding the region’s appeal to global investors. Notable examples include Visa’s $1 billion acquisition of Brazilian fintech Pismo, TikTok’s $1.5 billion investment in Indonesia’s Tokopedia, and PropertyGuru’s $1.1 billion acquisition in Southeast Asia. These transactions highlight the increasing volume of investments in financial infrastructure.

“In Brazil, although we lead in fintech innovation, we have one of the world’s most complex currency exchange systems, requiring over 100 transaction codes for financial operations, which creates operational inefficiencies. In Mexico, the lack of local debt funds forces fintech startups to rely on equity financing, which hinders their scalability,” explains Bruno Batavia, Director of Emerging Tech at Valor Capital.

About Valor Capital Group

Founded in 2011 and with a presence in New York, Silicon Valley, Rio de Janeiro, São Paulo, and Mexico City, Valor Capital is a pioneering Venture Capital and Growth Equity fund manager with a “cross-border” strategy, aiming to act as a bridge between the technology markets of the United States and Latin America. Its funds invest in transformative businesses, from early-stage startups to expansion-stage companies. Valor is committed to the success of its portfolio companies, offering capital, operational support, and global connections. Learn more at valorcapitalgroup.com.

About Credit Saison Brazil

Established in 2023, Credit Saison Brazil (CSBR) is a financial company with a mission to bring people, partners and technology together, creating resilient and innovative financial solutions for positive impact.

CSBR provides a comprehensive offering of both credit and equity investment opportunities to support the innovators and builders of Brazil, and is committed to being a transformative partner in creating opportunities and enabling dreams.

The company is part of Credit Saison Co. Ltd. from Japan, and Saison International as its international headquarters in Singapore with core businesses in lending and corporate venture capital. Founded in 1951, Credit Saison Co. Ltd is one of Japan’s largest non-bank financial companies with over 70 years of history and listed on the Tokyo Stock Exchange. The Company has evolved from a credit-card issuer to a diversified financial services provider across payments, leasing, finance, real estate and entertainment.

Over 1,500 employees work across the company’s markets (ex-Japan) of Brazil, Mexico, India, Indonesia, Vietnam, Thailand and Singapore.

About Saison Capital

Saison Capital (saisoncapital.com) is an early-stage venture capital fund (pre-seed to Series B) with a focus on emerging markets. The firm backs ambitious founders at the pre-seed or seed stage and focuses on web3, fintech and commerce.

Operating from the Asia Pacific region but deploying capital on a global scale, Saison Capital harnesses Credit Saison’s extensive financial services operating background and resources across key markets, including Singapore, Indonesia, India, Vietnam, Thailand, Philippines, Cambodia, Japan, Brazil and Mexico. Saison Capital is a wholly-owned subsidiary of Credit Saison.

Comac Medical Announces New Leadership Appointments and International Expansion

By
Advertorial Desk
-

Leadership transition and strategic growth initiatives mark the next phase of Comac Medical’s development under EdgeCap Partners.

SOFIA, Bulgaria, April 28, 2025 /PRNewswire/ — Comac Medical, a leading full-service Contract Research Organization (CRO) in Central and Eastern Europe, announced today the appointment of a new CEO and Board Chair and the launch of an international expansion initiative.

Leadership Appointments

Dr. Chris Smyth has been appointed as Chief Executive Officer, effective 1st September. Based in the UK, Dr. Smyth brings over two decades of executive leadership in global CROs and biotech-focused clinical research. Most recently, he served as President of ICON Biotech, and prior to that, held multiple senior roles at IQVIA Biotech including President and COO.

Comac Medical has also established a new Supervisory Board, chaired by Neil Ferguson. Mr. Ferguson is an experienced global commercial leader with over 35 years in the healthcare and pharmaceutical industries, with over 25 years in the outsourced services sector, including Syneos Health and Quintiles, where he held senior roles driving significant revenue growth and operational scale. Mr. Ferguson will lead the Supervisory Board consisting of Comac Medical’s founder and Honorary Chairman Dr. Milen Vrabevski and EdgeCap representatives Dr. Günter Schmid, Christopher Backes and Kristjan Piilmann.

Today’s appointments mark a significant milestone for Comac Medical as it enters its next phase of development, building upon the recent additions of two seasoned industry leaders based in Germany, Christian Buhlmann as Chief Commercial Officer and Peter Windisch as Chief Operations Officer.

International Expansion

Comac Medical has established local entities and teams in the United States, Germany, and the United Kingdom to supplement the strong presence Comac Medical already has in Central and Eastern Europe. Dedicated business development teams have been launched in those countries, including on the East and West Coasts of the US, to support biotech and pharma clients in key innovation hubs.

In parallel to its organic expansion, Comac Medical will continue its targeted M&A strategy with the goal of becoming the leading pan-European full-service CRO for biotech and biopharma customers.

Leadership Commentary

“I am thrilled to join Comac Medical at this exciting time of transformation and growth,” said Dr. Chris Smyth, incoming CEO. “We are building on a strong legacy, expanding our regional footprint, and staying focused on delivering exceptional value to our clients and providing opportunities for our teams.”

“It is an honor to support this leadership team and work with EdgeCap and Comac Medical on this next phase,” said Neil Ferguson, Chairman of the Supervisory Board. “We look forward to creating long-term value for our stakeholders and accelerating growth across key markets.”

“As founder of Comac Medical, I am immensely proud to see our organization — a champion of clinical research in Bulgaria and the CEE region — embark on a new chapter of international expansion,” said Dr. Milen Vrabevski, Honorary Chairman of the Supervisory Board. “This evolution reflects the strength of our foundation and the global relevance of our mission.”

“I would like to thank our co-CEOs, Dr. Rossitsa Vrabevska and Vladimir Goranov, for leading the company through a successful founder transition period. A warm welcome also to the incoming leadership team which will undoubtedly add significant momentum to our growth ambitions,” said Christopher Backes, Co-Founder of EdgeCap Partners.

About Comac Medical

Comac Medical, established in 1997 in Sofia, Bulgaria, is one of the largest full-service clinical research organizations (CRO) in Central and Eastern Europe, present in more than 30 countries, providing a comprehensive range of early to late-phase drug development services to the global pharmaceutical and biotech industries across a variety of therapeutic areas including oncology, rare diseases, dermatology, gastroenterology, and respiratory diseases.

The Company has a global customer base consisting of emerging biotech and established pharma companies, offering full outsourced clinical trial support across the entire clinical development spectrum. Comac Medical’s FDA and EMA-inspected Clinical Research Unit (CRU) for Phase I, Bioavailability and Bioequivalence studies has 20 years of experience in early phase clinical research. The facility is the largest in the region and comprises 42 beds, an on-site pharmacy as well as a clinical and bioanalytical laboratory.
Visit our company website.

About EdgeCap Partners

EdgeCap is a London- and Tallinn-based mid-market private equity and growth capital firm targeting investments in high-quality companies in Europe. We partner with ambitious founders and management teams to develop strong local businesses into pan-European and global champions. EdgeCap was founded in 2021 by Kristjan Piilmann and Chris Backes, who have 20+ years of combined private equity and investment banking experience at bulge bracket firms including PSG Equity LLP, Morgan Stanley, Citi and Goldman Sachs.

WSPN Launches Revolutionary Bank API Integration, Enabling WUSD Minting in Under 5 Minutes

By
Advertorial Desk
-

SINGAPORE, April 28, 2025 /PRNewswire/ — Worldwide Stablecoin Payment Network (WSPN) is pleased to announce a groundbreaking enhancement to its stablecoin infrastructure with the launch of a new bank API integration that enables users to mint WUSD in under 5 minutes, 24 hours a day, 7 days a week.

This technological advancement represents a significant milestone in the stablecoin industry, effectively eliminating the traditional waiting periods associated with fiat-to-crypto conversions and providing users with unprecedented access to digital assets regardless of banking hours or geographic location.

“Our mission has always been to break down barriers in the financial ecosystem,” said Raymond Yuan, Founder & CEO of WSPN. “This new integration revolutionizes the speed and efficiency with which users can access stablecoins. Minting WUSD in under 5 minutes, regardless of the time or day, creates unprecedented opportunities for both individual and institutional users in the digital asset space.”

Key Features of the Enhanced WSPN Portal:

  • Automated Fiat Deposits: Streamlined process for transferring USD from bank accounts to the WSPN platform
  • 5-Minute Minting Process: Complete end-to-end conversion from USD to WUSD in under 5 minutes
  • 24/7 Availability: Continuous service regardless of traditional banking hours
  • Multi-Bank Support: Integration with Green Link Digital Bank, FV Bank, and Banking Circle
  • Cross-Chain Compatibility: Easy withdrawal of newly minted WUSD to Ethereum or Polygon networks

The enhanced system operates through a simple three-step process: users deposit USD from their bank, mint WUSD from their USD balance, and can then withdraw WUSD to their preferred blockchain wallet. Each step has been optimized for speed and security, with the entire process taking less than 5 minutes from start to finish.

This development comes at a time when demand for efficient fiat-to-crypto on-ramps continues to grow, particularly for stablecoins that serve as a bridge between traditional finance and decentralized applications. By removing time constraints and simplifying the minting process, WSPN is positioning WUSD as a leading solution for users who require immediate access to digital assets.

About WSPN

WSPN is a leading provider of next-generation stablecoin infrastructure, committed to building a more secure, efficient, and transparent payment solution for the global economy. Their flagship product, WUSD stablecoin, is pegged 1:1 to the U.S. Dollar and aims to optimize secure digital payments for Web3 users. WSPN’s Stablecoin 2.0 approach prioritizes user-centricity, community governance, and accessibility, paving the way for widespread stablecoin adoption.

Learn more: www.wspn.io | X | LinkedIn

1...3,3553,3563,357...6,463Page 3,356 of 6,463